The results of the World Trade Organization (WTO) Ministerial Conference held this month in Bali, Indonesia, pleased the federal government and the Brazilian industry. That is what the researcher Lia Valls, of the Applied Economics Department at the Brazilian Institute of Economics (FGV/IBRE), states in a comment on the Institute's website.According to Lia, what is conventionally called the Bali Agreement will facilitate trade and reduce administrative costs. However, the economist points out - the agreement still has to make some progress. There's a long way to go, but Bali signaled that WTO members have not forgotten the possibility of multilateral negotiation, she said.  The researcher also believes that the post-Bali environment may contribute to the resumption of the Doha Round negotiations, stressing that the new agreement is a first step, but that difficulties should continue.The Bali Agreement is the first carried out by WTO in nearly 20 years. With the goal of helping global trade, it foresees commitments in three pillars: agriculture, with a commitment to reduce export subsidies; development aid, which provides increasing exemption of tariffs for products from least developed Countries; and the facilitation of exchanges, which aims to cut out bureaucracy at the borders.Click here to read the analysis by Lia Valls on the Bali Agreement on IBRE's website (in Portuguese).